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Going through the story of one Laszlo Hanyecz, the legendary guy that bought pizza two papa John’s pizza for 10,000BTC, on May 22nd, 2010, which is now tagged as the Bitcoin Pizza day. As at that time these pizza cost around $41, and Bitcoin prize was worth over 0.0041. Moving forward to today 10,000BTC which now worth over 1 billion dollar or thereabout, and he never regretted his actions for a day or probably he keyed into the first purpose of Bitcoin creation which is for basically digital payment.
What baffles me most time is that, probably he never expected the outcome of Bitcoin to be this huge in the next decade or more. This particularly brings me to the question that if he had not spent that much Bitcoin would it had one or the other contributed to the scarcity of Bitcoin?.
One thing I know for sure is that due to the scarcity of Bitcoin and the demand of acquiring it and its proof of work over the years is what contributed to it high value which is now seen as digital Gold and the also the fact the it give you freedom of your own holding due to its decentralized nature and it is not affected by inflation or the government manipulation. Although there is still volatility, the market dynamics of breaking key price barriers have demonstrated that Bitcoin is slowly coming to a stand. What is your take on this ?
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Over the years, inflation is almost making our fiat decrease in value our pensions our savings. The thing that will help the average persons the most is economic empowerment through the ability to accumulate assets that cannot be inflated, confiscated or manipulated. And which do we now see as the most accessible form of assets? BITCOIN. Bitcoin right now is an open permissionless network, you can literally be any where in the world and start acquiring it with a few fiat dollars, Yen, pound, naira or whatever fiat currency you have in your possession, and you’ll have a sit at the table. There’s no special advantage that a CEO in a Boardroom has versus you, because their network is blind to your net worth. I see so much hope in Bitcoin cause it’s going to lead us to a world of productivity, positivity and abundance as opposed to the scarcity, giving the common persons that has have Bitcoin in their possession leverage over the frustration that comes along with the government inflated fiat
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For this festive period we need to take our safety as our utmost priority and every other day, because Wetin dey happen this ember month e don dey pass be careful, this time around, Pls if u wan enter KEKE NAPEP or Taxi, and the rider or driver con use any piece of cloth or handkerchief take clean d back seat for u make you sit down, abeg nor sit down if possible use your own cloth clean am by yourself, some of them go intentionally pore water for the sit con do as if them dey clean am. This one na new method wey don Dey use take use people for ritual or do am the way you nor go fit say anything until them carry you go where dem dey go.
E Dey serious oh... And again, if anybody stop u con ask if u dey interested to buy their perfume con give u paper to perceive as sample, abeg nor allow am reach your nose. This one too na another method them Dey use. Them don put drugs for the paper wey go make you pass out then them go rub you or do worse things who knows, this message so na confession from 4 guys wey police catch for the process, make we try dey careful this period oh because na who dey alive they enjoy life. Make those of us wey come across this post try notify our loved ones and friends.
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I came across a post that got my attention, for real, if you really don’t want it, go ahead and do whatever profits you and stop bad mouthing a thing because you don’t have the energy to look into it, completely relying on others opinion, for instance the likes of Charlie Munger of Berkshire Hathaway
”Of course I hate the bitcoin success. I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth. I think I should say modestly that the whole damn development is disgusting and contrary to the interests of civilization.”
I don’t really let people critics about a particular thing affect my decisions on a subject until I’ve done my research. Everyone one is free to have their own opinions about Bitcoin, some might be supporters and others are looking for faults. Buh the fun part of it is that Bitcoin always does the opposite of their criticism. So far, one thing I’ve come to realize is that, whatever you’re do there’ll always be criticism which is human nature, not to talk of a digital currency trying to grow. If you know what you’re doing is right, It’s left for you to grow a hard skin. Buh actually i don’t see these criticism posing a negative threat, rather it’s an accomplice to Bitcoin growth. Keep gathering those bits until it worth a fortune.
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At first banks didn’t want to associate with Bitcoin or one way or the other they did while using the customers savings to do the technical investment, but never recommending the customers to invest themselves because they are unsure of the risk to reward ratio due to the volatile nature of Bitcoin .
Recently Nordic bank is about offering Bitcoin ETFs (Bitcoin Exchange traded Funds) to its clients starting from December. I think the banking system are coming to realization about the backup potential of Bitcoin and they’ll try to utilize the opportunity by creating a Bitcoin investment platform directly managed by them for their client and will urge them to invest in Bitcoin.
This way they’ll be able to benefit from the customer investment by charging a commission or fee whenever a client does a transaction or charging a custody fee to secure and manage the clients bitcoin, either way, there will be a charge or fee from your investment and a profit from your investment on your their own end.
To those of us on here that haven’t started accumulating Bitcoin due doubts or whatever the case maybe, why not show some courage and do the work yourselves now instead of waiting for the bank to make things easier for you at a cost. I’ve come across a thread in this forum that was highlighting exchanges and wallet you can use to accumulate Bitcoin with the minimum of a dollar, some of which are Luna wallet, Kraken Exchange and Uphold Exchange.
According to Michael Saylor “By the time bankers tell you it’s ok to buy it, it’ll cost you a million dollar a Bitcoin and when they tell you it’s a Good idea it’ll cost 10 million dollar a bitcoin” Smiley
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At first banks didn’t want to associate with Bitcoin or one way or the other they did while using the customers savings to do the technical investment, but never recommending the customers to invest themselves because they are unsure of the risk to reward ratio due to the volatile nature of Bitcoin . Recently Nordic bank is about offering Bitcoin ETFs (Bitcoin Exchange traded Funds) to its clients starting from December. I think the banking system are coming to realization about the backup potential of Bitcoin and they’ll try to utilize the opportunity by creating a Bitcoin investment platform directly managed by them for their client and will urge them to invest in Bitcoin. This way they’ll be able to benefit from the customer investment by charging a commission or fee whenever a client does a transaction or charging a custody fee to secure and manage the clients bitcoin, either way, there will be a charge or fee from your investment and a profit from your investment on your their own end. To those of us on here that haven’t started accumulating Bitcoin due doubts or whatever the case maybe, why not show some courage and do the work yourselves now instead of waiting for the bank to make things easier for you at a cost. I’ve come across a thread in this forum that was highlighting exchanges and wallet you can use to accumulate Bitcoin with the minimum of a dollar, some of which are Luna wallet, Kraken Exchange and Uphold Exchange. According to Michael Saylor “By the time bankers tell you it’s ok to buy it, it’ll cost you a million dollar a Bitcoin and when they tell you it’s a Good idea it’ll cost 10 million dollar a bitcoin”  |
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Most of us has chosen diverse ways to multiply our fiat, but all these method we've chosen has no effect over Inflation, some of us decide to go into:
Banking System: At some point, if you're able to save a huge amount of money, you can as well cut the effect of inflation by taking profit on a daily or weekly basis. You should know even by saving in the bank you're loosing free will over your money and tax is being deducted from your savings.
Personal Savings: Assuming you set some discretionary funds for saving, and you put it into a saving box or vault, as the year goes by due to inflation your money is being devaluated.
Pension: Let's say you're waiting on your pension to arrive and it's fix, we all know as long as it is in fiat it can't keep pace with inflation and also tax is being deducted from your pension as well or if eventually your company goes bankrupt, your pension plan will be left with absolutely nothing.
At the end of day can you say to yourself those options I have taken in the stead of Bitcoin are worth the risk. Probably by the time it comes to your realization, Bitcoin is heating $1M and you'll be like how I wish I had taken the risk earlier on. By this time last year, Bitcoin was over the range of $65k- $70k, just a year after and you can see the height it has reached now and it's still climbing, you also have the liberty to use your coin as you want, not under some government or traditional bank regulation.
Bitcoin has provided us with some sense of security and value despite it volatility. Choose wisely where you'll rather invest your discretional funds
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How do I bold my text when typing?
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Bitcoin don create an avenue for us for both spending and investment, despite the technical aspect of this coin, if you decide to gradually accumulate am as the year dey go, you go see say your investment dey triple as per the record Bitcoin don drop, e dey always come break the previous all time highs telling you of the potential wey e get and if you decide to spend am you nor dey under any government restriction, e nor dey like the fiat wey we get wey dey depreciate for value as the day dey go or e come be say bank service dey worry you nor fit come do transaction wey you suppose do. But for Bitcoin na you be your own bank, if you won spend outside your country sef, the cost of transaction dey stress free, compared to our local bank and their stress procedures just to spend outside your country. To some extent sef some shops don dey accept Bitcoin as a means of payment because the potential record e don keep. Make you nor go dey procrastinate too much, start now dey accumulate am small small for your feature freedom.
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Since I've been in this forum, being active for a while and going off due to busy schedule, criticism on my
own perspective is helping me to interact in this forum and making amends where I've been criticized or corrected but I won't say so for other newbies. These newbies when they come into the forum to interact and are being criticized, they feel that the forum isn't really a place where they can fit in and give up all of a eventually.
How do we approach newbies so we don't run away from the forum.
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Our system of Education is something else, starting from the primary system to the tertiary system. That of the the tertiary system their varieties of challenges it undergoes, for instance
* Over Population
* Outdated Curricula
* Lack of qualified faculty and equipment for studies
* Lectures Accepting Bribe (Sorting)
Talking about the over-population, the school authorities are no longer interested in the conduciveness of a class room, or has a limited set of person that is meant to be admitted in a department to ensure conducive learning, they admit to the extent that students now sit on the floor or outside the class room to take lectures due to lack of space.
Outdated Curricula. On this particular note, Nigerian universities are still making use of outdated curriculum to lecture their students, how do these universities curriculum prepare her students for the modern work force. Using my school as a case study, just imagine learning FORTRAN in this modern time, when other countries are leaning advance computer programming options
Lack of Qualified Faculty and Equipment for studies
Nigerian system of learning lack major equipment for learning, after being in the school environment for as much as your programme requires, then coming out to the public and you have nothing to offer due lack of necessary equipment for studies and conditions the students are being placed under.
Sorting in Nigerian Universities are now seen as a normalcy,
Lecturers in these universities are now adding to back logging of the educational system. Just imagine a student going for a job interview and is being asked questions related to his or her field of study and they can't come out with something tangible due to the corrupt process they've passed through.
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I Dey new for this Bitcoin stuff and I don dey hear about am for a very long time but I no really know wetin e dey do or contain, I go dey very grateful if una fit help me with material wey to help me understand this stuff well
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